2nd Mortgages & Home Equity Lines of Credit
A Home Equity Loan is a great way to access some of the equity you have in your home without modifying the existing mortgage. So if you currently have a great rate or don’t want to go through the expense and effort of a complete refinance, you can still cash out some of your homes equity. This cash can be used for a swimming pool, to remodel your kitchen, replace windows, and whatever else you can think of.
When advantageous, a 2nd Mortgage is used in conjunction with a first mortgage to purchase a home. This is sometimes referred to as a Piggy Back Loan. This loan type can be a great financial tool to avoid Mortgage Insurance and other equity-based triggers.
To obtain a financial report for you particular situation contact us.
Learn about Piggyback mortgages here.